Angola gets breathing space from Chinese creditors
TOM ARNOLD and KARIN STROHECKER ANGOLA has secured three years of payment relief from Chinese creditors and expects to get more than $700 million in its next tranche of International Monetary Fund financing in the coming days, its finance minister has announced. Africa's second-largest oil exporter has been seeking payment relief as it strives to overcome the hit from the coronavirus pandemic, heavy debt service requirements and volatility in the oil sector. Angola owes more than $20 billion to a number of Chinese entities, including $14.5 billion to the China Development Bank and nearly $5 billion to the Export-Import Bank…